Smart home appliances are devices connected to other devices via different wireless protocols such as bluetooth, Wi-Fi, NFC etc. which can interact. They are basically connected through microcontrollers. Networking home appliances together, and combining their controls and key functions is the latest trend. This helps in proper energy distribution and proves to be very efficient in managing the resources. As the appliances have the ability to measure and control the energy usage, they are also referred to as intelligent devices. Due to the increasing adoption of IoT, smart home appliances have gained immense popularity.
The smart home appliances market has been segmented on the basis of product and technology. The product segment comprises of dishwasher, washing machine, air conditioner, refrigerator, security devices, lighting devices and others. Smart home appliances accounts for the major share in the smart appliances market.
Major factors driving the Smart Home Appliances Market are the increasing adoption of IoT and growing demand for smart homes. This is owing to the growing demand for innovative products and improved standards of living.
The global smart home appliances market is expected to grow at approx. USD 33 Billion by 2023, at 23% of CAGR between 2017 and 2023.
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Major Key Players:
- Electrolux (Sweden)
- Haier Group Corporation (China)
- LG Electronics, Inc. (Korea)
- Samsung Group (Korea)
- Whirlpool Corporation (U.S.)
- Dacor (U.S.)
- Fujitsu General Limited (Japan)
- Panasonic Corporation (Japan)
- Robert Bosch GmbH (Germany)
- Voltas Limited (India)
The regional analysis of smart home appliances market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The major growth in smart home appliances market in North America is attributed to the increasing investments in the smart grid projects and changing preferences of consumers in that region.
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Smart Home Appliances Market Segmentation:
The smart home appliances market has been segmented on the basis of product and technology. The product segment is further bifurcated into refrigerators, dish washers, air conditioners and others.
- Technology investors
- Research/Consultancy firms
- Technology providers
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